Las Vegas Real Estate Discussion
Hi,
I'm in market looking to buy, but it seems to me that most of the economic indicators are pointing to stagnancy in real estate prices.
Gaming revenue and tourism is down.
The ratio of media housing cost to median income is at levels not seen since 2006. Ability of new buyers to enter the market is very limited.
What are others seeing and thinking ?
This new $250 surcharge for foreign visitors does not seem like the kind of thing which is going to be helpful to LV tourism.
This new $250 surcharge for foreign visitors does not seem like the kind of thing which is going to be helpful to LV tourism.
Or it will be great for Vegas. Keep the bottom feeders out. More room for the people who don't care about $$$.
Vegas can keep raising prices that way.
Let’s be clear - as a UK citizen who earns mid-6 figures and has visited the US at least 20 times in the last decade, I will not come again if this is introduced.
It’s not the cost but the principle. You have visa conditions and I abide by them. I’m not paying for privilege of being treated like a second class human being.
Whilst I completely understand the desire to control borders, this is the latest xenophobic policy designed to ‘build a wall’ - virtual or otherwise. I and many others will choose to spend our disposable income elsewhere……
Just live in a Van down by the River... if that is more your cup of tea.
Let's be clear - as a UK citizen who earns mid-6 figures and has visited the US at least 20 times in the last decade, I will not come again if this is introduced.It's not the cost but the principle. You have visa conditions and I abide by them. I'm not paying for privilege of being treated like a second class human being.Whilst I completely understand the desire to control bo
Bye bye mate!
Or it will be great for Vegas. Keep the bottom feeders out. More room for the people who don't care about $$$.
Vegas can keep raising prices that way.
I'll sarcastically respond that Vegas thrives on the people only being able to afford 5 star properties. The other properties be damned.
Let's be clear - as a UK citizen who earns mid-6 figures and has visited the US at least 20 times in the last decade, I will not come again if this is introduced.It's not the cost but the principle. You have visa conditions and I abide by them. I'm not paying for privilege of being treated like a second class human being.Whilst I completely understand the desire to control bo
I think you are right regarding the attitude that is projected.
I will say, the way I read the fee is that it is refundable assuming the visitor adheres to the rules. with that said, the government projection is that 30 billion will be added to government coffers due to the fee, which indicates it is expected to be a generator of money from foreigners.
Regarding real estate in Vegas...I don't expect a big rise of fall in the next year or two. My bias is to see a fall as I might buy, but not likely at current pricing.
Or it will be great for Vegas. Keep the bottom feeders out. More room for the people who don't care about $$$.
Vegas can keep raising prices that way.
That's an interesting perspective. Referring to tourists who contribute to the local economy as "bottom feeders".
Are we really at the stage where we classify people who can afford international vacations as being at the bottom of the food chain ?
Some random news articles from today ,,,,
Las Vegas homes without offers going up
https://www.yahoo.com/news/las-vegas-lea...
Table game dealers getting laid off
https://www.msn.com/en-us/money/markets/...
Las Vegas rental market 2nd in nation re: declining rental rates
This new $250 surcharge for foreign visitors does not seem like the kind of thing which is going to be helpful to LV tourism.
For most common countries, this only applies if they are staying longer than 90days. For 90day or less, they use ESTA which doesn't have this feed.
Basically applies to those on a B-2 visa which is VERY few tourist visitors.
Now some pros on B-1 visa might be dissuaded but honestly if you are coming here for 5 months to grind and you can't afford $250 do you really need to be coming?
Plus it is supposedly refundable.
Let's be clear - as a UK citizen who earns mid-6 figures and has visited the US at least 20 times in the last decade, I will not come again if this is introduced.It's not the cost but the principle. You have visa conditions and I abide by them. I'm not paying for privilege of being treated like a second class human being.Whilst I completely understand the desire to control bo
If you come for up to 90 days on a ESTA you will not be paying this new fee. Even if you pay it, it is refundable so long as you comply with your visa terms.
If I could predict real estate markets, I'd probably have more money.
However, my guess is that we are due for a dip. Prices have tripled in the last 12 years or so. And, while there are still a lot of great things about Vegas, it has gone downhill a lot.
Almost no traffic has become moderate traffic. Still nothing like LA, NY etc.
The interior of the city has gotten quite a bit worse. More homelessness. Petty crime. Cops don't care. I'm fine where I live now, but would never raise a family there. Summerland and such places are still nice.
Climate/drought concerns.
Tourism decline that you mentioned. Some is political. Many think the increasingly terrible value of a vegas vacation is a factor. Though we've been saying that for years.
2 of my friends have recently moved away. 1 more is on the way. I am hoping the value of my place maintains. It's still too profitable for me to leave, but once that is no longer true, I'm out.
I'll really miss the food though.
Let's be clear - as a UK citizen who earns mid-6 figures and has visited the US at least 20 times in the last decade, I will not come again if this is introduced.It's not the cost but the principle. You have visa conditions and I abide by them. I'm not paying for privilege of being treated like a second class human being.Whilst I completely understand the desire to control bo
If that article is right, it has already happened. Legislation passed and signed by POTUS.
I thought the $250 was for visitors to the US that required a visa.UK visitors don't need one if their stay is less than 90 days.
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I thought the $250 was for visitors to the US that required a visa.UK visitors don't need one if their stay is less than 90 days.
Sent from my SM-S921U using Tapatalk
You are correct. Tourists from most western countries are exempt from this fee.
They include 99% of Europe, Canada, Australia, NZ, Japan, Taiwan, South Korea, Israel and others.
Las Vegas foreclosure rates are near the highest in the country.
surcharges and resort fees are getting crazy in the area, and general RE i think too bubellish
The following mortgage delinquency data from the US govt is updated through Dec 2024
The peak for Las Vegas / Henderson metro was > 6% during the subprime mortgage crisis of the late 00's.
The floor was in April 2021 at 0.4%
Dec 2024 had risen to 1.8%. Not sure about how things have gone in 2024 but I assume that the figure grows along with LV unemployment figures
Let's be clear - as a UK citizen who earns mid-6 figures and has visited the US at least 20 times in the last decade, I will not come again if this is introduced.It's not the cost but the principle. You have visa conditions and I abide by them. I'm not paying for privilege of being treated like a second class human being.Whilst I completely understand the desire to control bo
Be careful when you travel you may get arrested upon returning to the UK for having posted something “offensive” on social media.
https://forumserver.twoplustwo.com/108/l...
Cool thread — lots of energy and real talk! If you’re tracking deals in Vegas, remember:
I have made the leap to buy a place. It's a 2BR / 2BA condo which had been purchased by a flipper from a bank REO and renovated with new kitchen, BR's, flooring and carpet.
About 1,350 sf in a gated community with pool near Eastern & Harmon. Monthly HOA is $220.
Purchase price is $220k.
Looking forward to having my own nest.
I have made the leap to buy a place. It's a 2BR / 2BA condo which had been purchased by a flipper from a bank REO and renovated with new kitchen, BR's, flooring and carpet.
About 1,350 sf in a gated community with pool near Eastern & Harmon. Monthly HOA is $220.
Purchase price is $220k.
Looking forward to having my own nest.
Is a RFID card needed for entry to the pool?
Seems like a lot for HOA.
